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Pastimes : Ask Mohan about the Market

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To: Joseph G. who wrote (186)	1/2/1997 12:21:00 PM
From: Imuah	of 18056

Joe, >>Anticipation of $200B in potential cash shold make instututions do all in their power not to let a more than "nominal 10% correction" scare contributors. Key word is "potential". Anyway, if bonds continue to tank, fund managers will have no choice but to sell and Elaine Garzarelli will be late, but right again. I track the long bond yield and it has gone above 6.7% this a.m. A close above 6.7% will spark further selling of bonds, IMO and THAT more than anything will tank the market and end the bull. Check out where the markets were in Sept when long bond was yielding 7.1%. That's what we have to look forward to, IMO. That and maybe more. Jack

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